Propertywire.ca posted this article on December 16 after CIBC released an economic report.
Next year won’t be the best ever, from an economic point of view, but chances are Canada will not fall victim to a recession as many other nations are likely to around the globe, according to CIBC World Markets.
They suggest that, while the economy will slowdown in 2012, there is a likelihood that the continued low interest rate environment will do much to buoy the economy, and keep it from sinking into recessionary territory.
"As an open economy, Canada can't help but feel the disappointment of a barely half-speed world," says Avery Shenfeld, chief economist at CIBC in a new economic forecast. "Excepting Europe, we're not destined for recession, but global growth will barely top three per cent next year, and 2013 won't be a whole lot better, well below the bounteous five per cent pre-recession pace."
They expect that job levels in Canada will remain roughly the same through 2012, which makes the economy that much more dependant on these low interest rates and the consumer spending that will be encouraged to help move the economy along. This suggests too, as many have already said, that interest rates will stay at these low levels for many months to come.
"2012 is on tap to be a lacklustre year for the Canadian economy. While the Bank of Canada had earlier warned about rate hikes in 2011, the next leg of a tightening cycle looks unlikely to be required before 2014, as the economy continues to need exceptionally low rates to stay above water."
Shenfeld also points to business spending as another necessary mechanism to keep the wheels of the economy moving. “Spending in energy, aluminum smelting, shipbuilding facilities and other private sector megaprojects will provide at least some antidote to the retreat underway in public sector capital spending as the recession's stimulus is wound down."
Coldwell Banker Peter Benninger will be hosting a 2012 Economic Outlook event in February, presented by the Assistant Chief Economic Paul Ferley of RBC. Limited seating by invitation only. Please contact me for more details.
Monday, December 19, 2011
Tuesday, December 13, 2011
GO Trains officially begin operation from Kitchener on Monday!
It's official....for the thousands of commuters from Kitchener to Toronto who travel everyday, they will have the option of using the GO trains starting on Monday.
Welcome news for many, and another reason Kitchener-Waterloo considered a desireable area in which to leave - as is evidenced from our stable real estate market.
This article from the Waterloo Region Record outlines the details of the new GO Transit operation.
A welcome boost for GO trains
Welcome news for many, and another reason Kitchener-Waterloo considered a desireable area in which to leave - as is evidenced from our stable real estate market.
This article from the Waterloo Region Record outlines the details of the new GO Transit operation.
A welcome boost for GO trains
History will be made next Monday when the first GO train pulls out of the station in Kitchener headed for Toronto. For the first time ever, people will be able to use this commuter service to travel between Waterloo Region and Canada’s biggest city. This is a great step forward for this community. But, if the service is to truly catch on, GO will need help.
In part, this is because when the service starts on Dec. 19, only two trains a day will run during the work week from the Kitchener station to Union Station in Toronto, and two trains will make the return trip in the afternoon. The journey will take about two hours each way. Originally, GO Transit intended to operate more trains each day.
From the start, many local commuters will welcome the GO trains. To its credit, Waterloo regional council is doing its best to make the service work better for them while persuading even more people to use it.
The region has agreed to provide free parking near the Victoria Street train station, and to operate a shuttle van service between the station and the Charles Street bus terminal. The region, which operates Grand River Transit, has also arranged to sell 50-cent bus tickets to passengers going to or from the GO station and to have GO Transit reimburse the region for the remainder of the price.
These incentives will obviously cost the region and GO Transit some revenue. Yet the money will be well spent. The region should indeed encourage people to use the GO Trains. The service will have to be efficient and convenient if it is to live up to its potential.
In fact, the best way to increase the level of service in the future will be to make sure the trains that do operate are either full or close to full.
Ideally, the provincial government would have enabled GO Transit to launch the GO service with a more complete schedule and faster trains. But the government is running a heavy deficit and lacks the cash to launch a more comprehensive Go service.
GO Trains serve a public good that goes beyond transporting passengers. By giving the region’s residents going to Toronto an option other than getting into their vehicles, the GO Trains should ease congestion on Highway 401 while making the commute more manageable for many people.
In time, GO’s goal should be to have more and faster trains serving this community. The region’s welcome incentives to commuters can play a role in making this happen.
In part, this is because when the service starts on Dec. 19, only two trains a day will run during the work week from the Kitchener station to Union Station in Toronto, and two trains will make the return trip in the afternoon. The journey will take about two hours each way. Originally, GO Transit intended to operate more trains each day.
From the start, many local commuters will welcome the GO trains. To its credit, Waterloo regional council is doing its best to make the service work better for them while persuading even more people to use it.
The region has agreed to provide free parking near the Victoria Street train station, and to operate a shuttle van service between the station and the Charles Street bus terminal. The region, which operates Grand River Transit, has also arranged to sell 50-cent bus tickets to passengers going to or from the GO station and to have GO Transit reimburse the region for the remainder of the price.
These incentives will obviously cost the region and GO Transit some revenue. Yet the money will be well spent. The region should indeed encourage people to use the GO Trains. The service will have to be efficient and convenient if it is to live up to its potential.
In fact, the best way to increase the level of service in the future will be to make sure the trains that do operate are either full or close to full.
Ideally, the provincial government would have enabled GO Transit to launch the GO service with a more complete schedule and faster trains. But the government is running a heavy deficit and lacks the cash to launch a more comprehensive Go service.
GO Trains serve a public good that goes beyond transporting passengers. By giving the region’s residents going to Toronto an option other than getting into their vehicles, the GO Trains should ease congestion on Highway 401 while making the commute more manageable for many people.
In time, GO’s goal should be to have more and faster trains serving this community. The region’s welcome incentives to commuters can play a role in making this happen.
Saturday, December 10, 2011
A Charlie Brown Christmas - What does Lucy want for Christmas?
This is my second favourite Christmas Show! But it has my very favourite quote from Lucy at the end of this clip!
Thursday, December 8, 2011
Selling Your House During the Winter? Here are a Couple Practical Tips....
There are many difficulties that present themselves when selling your property during the winter months. Most notably are the shorter days with darkness coming earlier and, of course, snow.
There is nothing more frustrating for a potential buyer coming to view your property than to have to struggle over a snowbank if they have to park on the street or on the edge of your driveway and then meander through a 16 inch wide walk way to make it to the front door.
It's extra work, but it does pay off. Clearing the full width of the walk way and driveway and keeping the banks back from the edge would go a long way to putting that potential buyer in a good mood when they walk in the door to view the property.
Also, try to schedule any showings early in the day so that there is maximum light. That may mean being prepared to allow showings in the morning.
Also, make sure every light is on (including in closets and utility rooms) as well as making sure the maximum wattage bulbs are being used. You're selling your property, this isn't the time to use energy efficient bulbs. And consider leaving all the blinds and drapes wide open through the day.
For more advice on staging or for a market evaluation of your home, please contact me anytime.
There is nothing more frustrating for a potential buyer coming to view your property than to have to struggle over a snowbank if they have to park on the street or on the edge of your driveway and then meander through a 16 inch wide walk way to make it to the front door.
It's extra work, but it does pay off. Clearing the full width of the walk way and driveway and keeping the banks back from the edge would go a long way to putting that potential buyer in a good mood when they walk in the door to view the property.
Also, try to schedule any showings early in the day so that there is maximum light. That may mean being prepared to allow showings in the morning.
Also, make sure every light is on (including in closets and utility rooms) as well as making sure the maximum wattage bulbs are being used. You're selling your property, this isn't the time to use energy efficient bulbs. And consider leaving all the blinds and drapes wide open through the day.
For more advice on staging or for a market evaluation of your home, please contact me anytime.
Tuesday, December 6, 2011
New Real Estate Listing Book Available!
Click here http://issuu.com/kwtreb/docs/87731.19.13.cb?mode=window&viewMode=doublePage for the latest Coldwell Banker listings.
Please contact me if you'd like more info on these or any other properties.
Please contact me if you'd like more info on these or any other properties.
Monday, December 5, 2011
Home Values in K-W Still Rising as November Stats are Released
Click this link http://www.kwar.ca/stats/November_2011_Media_Release.pdf to see the most recent media release regarding home sales in K-W.
Feel free to contact me if you'd like more information on our the Local Real Estate Market of if you are considering buying or selling real estate soon!
Feel free to contact me if you'd like more information on our the Local Real Estate Market of if you are considering buying or selling real estate soon!
Sunday, December 4, 2011
CMHC: Reduction of Houshold Debt Creating a Balanced Real Estate Market
Senior officials have been repeating a message of restraint and responsibility when it comes to consumer debt, and apparently the consumers are listening.
New information from Canada Mortgage and Housing Commission (CMHC) suggests that accumulation of mortgage debt has slowed in this country, a likely consequence of stabilizing of the market in general.
According to CMHC, this slowing in consumer borrowing is not limited to mortgages, but says that there has been broad-based drop in consumer credit as well, including credit cards and lines of credit.
The concern has been that the continued environment of low interest rates would be too tempting for many, and debt accumulation would ramp up, leaving some vulnerable when rates do eventually rise.
Perhaps for some though, this low interest rate environment has become their new sense of borrowing reality, as rates have been low for sometime, and are expected to stay put for the near future, because of economic trouble brewing internationally.
Also, recent government regulations requiring that borrowers must qualify for a five-year term mortgage, which is set at a higher interest rate, even though their actual mortgage at a shorter term would be at a lower rate. This essentially creates a built-in buffer against rate increases.
There is a feeling too, that this new sense of credit caution for consumers will play out well for the Canadian Real Estate market. The low interest rates will still incentify buyers, but this new awareness of the potential pitfalls of debt, as evidenced by dropping levels of debt over the last few months, suggest that debt loads, while high are showing a downward trend.
Essentially, this combination should bring balance to the market, heading off fears of an unsustainable spike in property prices.
New information from Canada Mortgage and Housing Commission (CMHC) suggests that accumulation of mortgage debt has slowed in this country, a likely consequence of stabilizing of the market in general.
According to CMHC, this slowing in consumer borrowing is not limited to mortgages, but says that there has been broad-based drop in consumer credit as well, including credit cards and lines of credit.
The concern has been that the continued environment of low interest rates would be too tempting for many, and debt accumulation would ramp up, leaving some vulnerable when rates do eventually rise.
Perhaps for some though, this low interest rate environment has become their new sense of borrowing reality, as rates have been low for sometime, and are expected to stay put for the near future, because of economic trouble brewing internationally.
Also, recent government regulations requiring that borrowers must qualify for a five-year term mortgage, which is set at a higher interest rate, even though their actual mortgage at a shorter term would be at a lower rate. This essentially creates a built-in buffer against rate increases.
There is a feeling too, that this new sense of credit caution for consumers will play out well for the Canadian Real Estate market. The low interest rates will still incentify buyers, but this new awareness of the potential pitfalls of debt, as evidenced by dropping levels of debt over the last few months, suggest that debt loads, while high are showing a downward trend.
Essentially, this combination should bring balance to the market, heading off fears of an unsustainable spike in property prices.
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